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Tuesday, April 13, 2021

Equity Trader Alert #2021 - 28
Nasdaq – New Security Addition – Coinbase Global, Inc. Direct Listing

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  • Industry Announcement

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On April 14, 2021, the Class A common stock of Coinbase Global, Inc. is expected to list on Nasdaq through a Direct Listing using the ticker “COIN”.

Because this security has not previously traded on any listing market and has no prior day's closing price, Regulation SHO Rule 201 will not apply to the security until its second day of trading on Nasdaq.

As a Direct Listing, COIN will be in a regulatory halt until Nasdaq opens trading pursuant to the procedures described in Rules 4120(c)(8) and (9) and 4753. Because COIN has not had recent sustained trading in a private placement market, Nasdaq is required to determine the price to use for purposes of Rule 4753(a)(3)(A)(iv)(b) and 4753(b)(2)(D)(ii). That reference price is $250.00.

Please note that the reference price is NOT an offering price and nobody has purchased or sold shares at that price. The opening public price will be determined based on buy and sell orders in the opening auction on Nasdaq.

Company/Issue:

Coinbase Global, Inc.

Class A Common Stock
CUSIP#: 19260Q107
Symbol: COIN
Expected Trade Date: April 14, 2021

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